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Henan Jindan Lactic Acid Tech’s IPO debut on Shenzhen Stock Exchange today – China Knowledge


Apr 22, 2020 (China Knowledge) – Henan Jindan Lactic Acid Tech (300829) to start trading on the Shenzhen ChiNext Market today, at a public offering price of RMB 22.53 per share, raising up to RMB 637.60 mln. Its initial listing shares account for 25.06% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.98.

Sinolink Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, Henan Jindan Lactic Acid Tech said its IPO was 3,529 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. The IPO hit limit of 44% increment in its first day of listing, closed at 32.44 RMB per share. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

Henan Jindan Lactic Acid Technology Co Ltd is a China-based company mainly engaged in the development, production and sales of lactic acid and its products. The Company’s main products include various lactic acid and calcium lactate, sodium lactate and lactate. Its products are applied to daily necessities, industry, dairy products, feed, food, cosmetics and chemical industries. The Company conducts its businesses within the domestic market and to overseas markets.

In financial year 2019, Henan Jindan Lactic Acid Tech garnered a total revenue of RMB 878.11 mln, up 9% YoY. In terms of net income, it achieved RMB 112.83 mln, up 36 % YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 19.78 % and 10.15% respectively, earning per share (EPS) of 1.36 RMB.

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